The Bank of New York Mellon Co. (NYSE:BK) Shares Sold by Edmond DE Rothschild Holding S.A.

Edmond DE Rothschild Holding S.A. decreased its holdings in The Bank of New York Mellon Co. (NYSE:BK) by 28.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,265 shares of the bank’s stock after selling 880 shares during the period. Edmond DE Rothschild Holding S.A.’s holdings in Bank of New York Mellon were worth $131,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of the stock. Norges Bank purchased a new stake in shares of Bank of New York Mellon in the 4th quarter valued at approximately $813,701,000. Vanguard Group Inc. raised its stake in Bank of New York Mellon by 6.1% in the fourth quarter. Vanguard Group Inc. now owns 74,501,451 shares of the bank’s stock valued at $3,877,801,000 after buying an additional 4,293,751 shares in the last quarter. KBC Group NV lifted its holdings in Bank of New York Mellon by 217.0% during the 4th quarter. KBC Group NV now owns 1,528,492 shares of the bank’s stock worth $79,558,000 after buying an additional 1,046,298 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Bank of New York Mellon by 153.5% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,554,532 shares of the bank’s stock worth $80,913,000 after acquiring an additional 941,193 shares in the last quarter. Finally, Putnam Investments LLC increased its holdings in shares of Bank of New York Mellon by 224.9% in the 4th quarter. Putnam Investments LLC now owns 1,001,056 shares of the bank’s stock valued at $52,105,000 after acquiring an additional 692,910 shares during the last quarter. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Price Performance

BK stock traded down $0.93 on Wednesday, reaching $64.09. The company had a trading volume of 7,342,290 shares, compared to its average volume of 3,786,678. The company’s fifty day moving average is $59.65 and its 200 day moving average is $56.95. The company has a market cap of $47.93 billion, a P/E ratio of 14.84, a PEG ratio of 1.31 and a beta of 1.09. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.71 and a current ratio of 0.70. The Bank of New York Mellon Co. has a 1 year low of $39.66 and a 1 year high of $65.90.

Bank of New York Mellon (NYSE:BK) last released its earnings results on Friday, July 12th. The bank reported $1.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.43 by $0.08. The company had revenue of $4.60 billion for the quarter, compared to analyst estimates of $4.53 billion. Bank of New York Mellon had a net margin of 9.40% and a return on equity of 11.87%. The firm’s quarterly revenue was up 2.1% on a year-over-year basis. During the same period in the prior year, the firm earned $1.38 EPS. On average, research analysts forecast that The Bank of New York Mellon Co. will post 5.55 earnings per share for the current year.

Bank of New York Mellon Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 2nd. Shareholders of record on Monday, July 22nd will be issued a $0.47 dividend. This is a boost from Bank of New York Mellon’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Monday, July 22nd. This represents a $1.88 annualized dividend and a yield of 2.93%. Bank of New York Mellon’s payout ratio is 38.89%.

Insider Activity

In other Bank of New York Mellon news, VP Catherine Keating sold 54,070 shares of the stock in a transaction that occurred on Thursday, April 18th. The shares were sold at an average price of $54.88, for a total transaction of $2,967,361.60. Following the transaction, the vice president now owns 78,350 shares of the company’s stock, valued at $4,299,848. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Bank of New York Mellon news, VP Catherine Keating sold 54,070 shares of the company’s stock in a transaction dated Thursday, April 18th. The stock was sold at an average price of $54.88, for a total transaction of $2,967,361.60. Following the completion of the sale, the vice president now directly owns 78,350 shares in the company, valued at $4,299,848. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Kurtis R. Kurimsky sold 6,215 shares of Bank of New York Mellon stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $57.93, for a total value of $360,034.95. Following the completion of the transaction, the insider now directly owns 24,346 shares in the company, valued at $1,410,363.78. The disclosure for this sale can be found here. Insiders sold a total of 115,928 shares of company stock valued at $6,475,216 in the last 90 days. 0.14% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

BK has been the subject of a number of research reports. Citigroup cut shares of Bank of New York Mellon from a “buy” rating to a “neutral” rating and set a $65.00 price target for the company. in a research report on Monday. Morgan Stanley raised their price target on Bank of New York Mellon from $63.00 to $65.00 and gave the stock an “equal weight” rating in a research note on Monday. Jefferies Financial Group boosted their price objective on Bank of New York Mellon from $67.00 to $68.00 and gave the company a “buy” rating in a research note on Thursday, April 18th. Deutsche Bank Aktiengesellschaft increased their price objective on Bank of New York Mellon from $61.00 to $63.00 and gave the company a “hold” rating in a report on Monday. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $58.00 target price on shares of Bank of New York Mellon in a report on Wednesday, March 27th. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, Bank of New York Mellon presently has a consensus rating of “Moderate Buy” and a consensus price target of $65.23.

About Bank of New York Mellon

The Bank of New York Mellon Corporation provides a range of financial products and services in the United States and internationally. The company operates through Securities Services, Market and Wealth Services, Investment and Wealth Management, and other segments. The Securities Services segment offers custody, trust and depositary, accounting, exchange-traded funds, middle-office solutions, transfer agency, services for private equity and real estate funds, foreign exchange, securities lending, liquidity/lending services, and data analytics.